To paraphrase Bryan Spondre's own cyber slacking, "The Government is Eating the Economy
“Treasury has released the New Zealand Government’s accounts for the first three months of the 2008/09 financial year, which show the government falling into an operating deficit of NZ$757 million from a forecast of a NZ$943 million surplus.” - Bernard Hickey
And if you've seen the economic disaster coming and read the so-called "rescue" plans of either party -- of which, if you've read one you've read the other -- you'd know that scary number is only going to get scarier.
1 comment:
The U.S. deficit this year is estimated to be as high as $1T; even before the bailout it was in the neighborhood of $450B.
It's a pity we no longer live in an age when that is seen as treason and a capital offense. (Bad pun intended.)
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